Fair Values of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2020

Fair Values of Financial Instruments

Summary of the estimated fair value and the related carrying values of the Company’s financial instruments

Dollars are in thousands			Fair Value Measurements at September 30, 2020
			Quoted Prices in		Significant		Significant
	Carrying		Active Markets for		Other		Unobservable
	Amount		Identical Assets		Observable Inputs		Inputs
	September 30, 2020		(Level 1)		(Level 2)		(Level 3)		Balance
Financial assets:
Cash and due from banks	$	220,612	$	220,612	$	—	$	—	$	220,612
Interest bearing deposits		34,334		34,334		—		—		34,334
Federal funds sold		34,345		34,345		—		—		34,345
Securities:
Available for sale		128,011		—		128,011		—		128,011
Loans held for sale		7,765		—		7,765		—		7,765
Loans, net of allowance for credit losses		1,043,143		—		—		1,041,511		1,041,511
Accrued interest receivable		6,254		—		6,254		—		6,254
Restricted stock		4,421		—		4,421		—		4,421
Other investments		6,734		—		6,734		—		6,734
Bank owned life insurance		14,747		—		14,747		—		14,747
Other real estate owned		2,796		—		—		2,796		2,796
Financial liabilities:
Deposits	$	1,234,926	$	—	$	1,243,447	$	—	$	1,243,447
Accrued interest payable		448		—		448		—		448
FHLB advances		74,336		—		76,025		—		76,025
Subordinated notes payable		24,089		—		36,461		—		36,461
Other borrowings		65,475		—		—		65,475		65,475

Dollars are in thousands			Fair Value Measurements at December 31, 2019
			Quoted Prices in		Significant		Significant
	Carrying		Active Markets for		Other		Unobservable
	Amount		Identical Assets		Observable Inputs		Inputs
	December 31, 2019		(Level 1)		(Level 2)		(Level 3)		Balance
Financial assets:
Cash and due from banks	$	36,295	$	36,295	$	—	$	—	$	36,295
Interest bearing deposits		27,586		27,586		—		—		27,586
Federal funds sold		31,230		31,230		—		—		31,230
Securities:
Available for sale		104,321		—		104,321		—		104,321
Loans held for sale		3,555		—		3,555		—		3,555
Loans, net of allowance for credit losses		986,684		—		—		976,636		976,636
Accrued interest receivable		3,138		—		3,138		—		3,138
Restricted stock		5,311		—		5,311		—		5,311
Other investments		4,773		—		4,773		—		4,773
Bank owned life insurance		7,817		—		7,817		—		7,817
Other real estate owned		2,417		—		—		2,417		2,417
Financial liabilities:
Deposits	$	1,006,781	$	—	$	1,008,842	$	—	$	1,008,842
Accrued interest payable		572		—		572		—		572
FHLB advances		96,830		—		97,248		—		97,248
Subordinated notes payable		6,435		—		9,006		—		9,006
Other borrowings		1,249		—		—		1,249		1,249